REAL ENTREPRENEURS SELL TAP WATER

REPRINTED FROM NEWSLETTER FALL/WINTER 2011/2012 

Faye  Nwafor

Money for entrepreneurs in tap water.

An entrepreneurial duo out of New York City is trying to capitalize on one of the city’s few free products-tap water. Curiously they call it Tap'd NY. I mention it here for the sheer fact that however this pans out the idea makes great business sense and can be a model for other start-ups and entrepreneurs. Here's why: They're starting with a raw material that’s free (tap water). They’ve tapped into (no pun intended) New Yorkers' long standing knowledge that their water is the cleanest water in the country. They're jumping into a pre-existing and already successful product category-bottled water. On launching, these entrepreneurs' unique selling point to their cafe market seems to be "we're environmentally-friendly." (They've got a slogan pointing out that no polar ice caps were harmed during their products’ creation) The whole "buy local, use less energy, drink our own, save the world" subtlety of their message attached to the existing bottled water category is nothing if not a low cost upgrade to an existing product category. Wonder how many similar "new product" launches this will start. Maybe yours.

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